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Karsted Air Services is now in the final year of a project. The equipment originally cost...

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Finance

Karsted Air Services is now in the final year of a project. Theequipment originally cost $26 million, of which 80% has beendepreciated. Karsted can sell the used equipment today for $6.5million, and its tax rate is 30%. What is the equipment's after-taxsalvage value? Write out your answer completely. For example, 13million should be entered as 13,000,000. Round your answer to thenearest dollar.

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Transcribed Image Text

Karsted Air Services is now in the final year of a project. Theequipment originally cost $26 million, of which 80% has beendepreciated. Karsted can sell the used equipment today for $6.5million, and its tax rate is 30%. What is the equipment's after-taxsalvage value? Write out your answer completely. For example, 13million should be entered as 13,000,000. Round your answer to thenearest dollar.

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